New Construction Loans in Paris, Illinois

Paris, IL has 26 new construction hard money lenders in the city.
Note amounts average approximately $287,813. Interest rates on hard money loans made to Paris investors average around 11.2%. 12 months is the mean length for loans made in the city. The mean loan includes a 2.8 percent origination cost.
73% is the median loan to value (LTV) offered for for loans in Paris.

Loan Example 1

Marcella
is an investor and decides to buy a land lot in Paris, IL to build a new tri-plex.
The plot is available for $170,000 and Marcella
thinks the construction costs for the new house will be about $200,000.
She obtains a construction loan from Fortune Funding Company
with the following terms: 1) a 12 month note at 11% interest, 2) interest only payments made every month, 3) 5 origination points paid at closing by the borrower, and 4) a 65% loan-to-value (LTV) on the lot and the construction costs.
Marcella
will collect the construction costs in draws and there won't be a pre-payment penalty if she repays the loan before the 12 months is over.
According to this loan scenario, Marcella
will be required to contribute the following expenses: 1) $129,500 cash down (based on the 65% LTV), 2) a $12,025 origination charge ($240,500 principle x 5%), and 3) $2,205 monthly payments.
Marcella
's plan is to sell the new home for $440,000. If she achieves this, she will earn a total profit of $31,520 after subtracting all expenses ($240,500 principle, $129,500 cash down, $12,025 origination fee and $26,455 for 12 months of payments).

Loan Example 2

George
is a real estate investor who wants to build a tri-plex on a land lot in Paris, IL.
He gets a new construction loan from Credence Lending Company
with the following parameters:

a) A $150,000 sales price for the land plot, b) $250,000 in construction costs, c) an 55% loan to value (LTV), d) a 6 month length, e) a 12% interest rate, and f) a 2 point origination fee.

Based on a projected $560,000 re-sell after the 6 months, the numbers for this deal will look like this:

Anchor Loans is a California based Hard Money Lender. They provide loans in 46 states throughout the US. They are the largest Fix-and-Flip lender in the U.S. lending over $6 Billion life-to-date in total loan volume to real estate ...

Based in Atlanta, GA, Angel Oak Prime Bridge is an asset-based lender offering loans throughout Georgia.
They provide loans for many different scenarios, including fix-and-flip hard money loans, short term bridge loans, construction loans, and investment property loans. ...

NSB Financing is a Miami, FL based hard money lender. They offer loans in 10 states throughout the United States. They offer loans for many different situations and needs, including commercial hard money loans, hard money construction loans, ...

Based in Hamilton, NJ, Creative Hard Money LLC is a private lender offering loans throughout the United States.
They provide loans for many different scenarios, including fix and flip loans, cash out hard money loans, rental property loans, ground-up ...

Primeau Funding is hard money lender based in Scottsale, AZ. They provide loans across the United States.
They provide short term bridge loans, ground up construction loans, commercial loans, and fix-and-flip hard money loans.
They ...

Headquartered in Miami Beach, FL, YC Funding is an asset-based lender offering loans in 23 states across the United States.
They offer construction loans, cash out loans, buy and hold loans, short term bridge loans, fix and flip hard ...

Genesis Capital is a Woodland Hills, CA based private lender. They provide funding in 17 states throughout the United States. They offer ground up construction loans, bridge loans, buy and hold loans, fix-and-flip loans, private refinancing, and ...

New Wave Loans is an asset-based lender based in Aventura, FL providing funding throughout New York, Arizona, Illinois, and Florida.
They provide lending solutions for a variety of situations, including buy and hold loans, commercial loans, ground up ...

Straightline Funding is an Atlanta, GA based private lender. They provide loans throughout Alabama, Georgia, Illinois, North Carolina, and South Carolina. They provide bridge loans, loans for investments properties, new construction loans, cash out loans, fix and ...

Headquartered in Long Beach, NY, NLDS Corp is a private lender providing funding in 32 states throughout the US.
They offer lending solutions for a variety of scenarios, including hard money bridge loans, fix-and-flip hard money loans, investment property ...

Island View Private Loan Fund is a hard money lender based in Colorado Springs, CO offering funding in 42 states across the US.
They offer lending solutions for a variety of situations and needs, including fix and flip hard ...

Global Integrity Finance are commercial hard money lenders based in McKinney, Texas. They specialize in hard money loans for commercial properties, bridge loans, fix and flip loans, and construction loans in some cases. They fund all loans using ...

Sharestates is a Great Neck, NY based hard money lender. They provide loans in 46 states across the US. They offer lending solutions for a variety of needs and situations, including hard money loans for commercial properties, fix ...

Based in Santa Ana, CA, Unlimited Capital Group is a private lender offering loans in 15 states across the country.
They offer loans for a variety of situations, including fix-and-flip loans, refinancing, bridge loans, loans for rental properties, commercial ...

Sunset Equity Funding is a hard money lender based in Los Angeles, California. They issue loans in all states except for Alaska, North Dakota, and South Dakota. Their loan offerings include purchase loans, fix and flip loans, new ...

Based in Colorado Springs, CO, Red Rock Capital is a private money lender providing loans in 42 states across the United States.
They offer construction loans, bridge loans, fix-and-flip loans, and loans for investments properties.
Their loan ...

Lima One Capital is a hard money lender based in Greenville, SC providing loans in 40 states across the US.
They offer loans for many different scenarios, including fix-and-flip hard money loans, construction loans, refinancing, and investment property ...

Rodeo Capital Inc is private lender headquartered in Los Angeles, CA. They provide loans throughout the US.
They offer lending solutions for many different situations, including refinancing, short term bridge loans, hard money construction loans, fix and ...

Silver Arch Capital is a Hackensack, NJ based hard money lender. They provide loans across the US. They provide new construction loans, refinancing, and hard money loans for commercial properties.
They offer terms between 1 ...

Miner Capital Funding is private money lender based in Belleville, IL. They offer funding all across the US.
They offer ground up construction loans, hard money refinancing, long term rental property loans, private commercial loans, short term ...

Skyline Home Loans is a private money lender headquartered in Peoria, AZ providing loans across the US.
They offer lending solutions for many different situations, including short term fix and flip loans, ground-up construction loans, and rental property ...

Based in Charlotte, NC, Finance of America Commercial is a private money lender providing funding all throughout the United States.
They offer lending solutions for a variety of situations and needs, including refinancing, hard money bridge loans, fix and ...

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